The White House let Congress know last Friday morning that it will be bringing the Trans-Pacific Partnership Agreement to lawmakers in a move that is intended to bring new energy to the discussions. The move comes amid a presidential campaign that has both major party candidates coming out against the deal as a “job-killer.” President Obama feels the deal would pass in a lame-duck session of Congress, noting that he would like to discuss that fact with lawmakers once the elections are over instead of playing political football with the topic. Obama called America, “A part of the global economy,” stressing the necessity of international supply chains and the importance of the export sector to U.S. jobs and the economy.
While Republicans in Congress have questions about the deal they would like answered, many Democrats called the deal a non-starter because of concerns about enforcing labor and environmental standards in countries like Vietnam. Currency manipulation is another part of the deal on which Congress wants answers.
Source: NAFB News Service